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Chinese "Devil Virus" - anyone worried?

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Richey said:
If you invest in gold via an ETF within your ISA then you won't get taxed and will only pay the dealing charge (depending on your provider) and management charge. I wouldn't personally invest in gold, but obviously many people do!
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Yeah I looked at that but my Halifax share dealer doesn't seem to give me access to everything on the trading platform. I did some research and the way for me to swerve capital gains is buying coins which I don't mind.
Why wouldn't you go for gold btw?
I'd get stiffed for approx 8% between buying and selling currently, pretty hefty margin at a lot of places, but looking at the market there seems to be an easy 8% on the gold price whilst this corona nonsense is going on.
 
Mors said:
Slightly related to all this, the markets are all tanking because of it. @dantes I've liquidated my stocks and shares ISA on the run up to this, and now there's an obvious run on gold as there always is. If I buy physical gold do I start getting stiffed with tax etc? Trading inside the isa for stocks I only get charged the handling fee, I've not bought gold before. I'm think gold has a rough target of around 2250 if this keep up from where it's at.
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Don't even think about paying that tax! Put the cash into a trading account and use options to short sell companies that won't survive the recession.
 
I've got a finspreads account I was going to transfer to and go short on, and it is a bit of a free for all, but, I just feel more comfortable with a more stable holding. Yeah I could set my stop loss at 10% of what I went in at, but with the current volatility I feel like I could get shook out of a lot of trades. There's plenty of chop in there on a lot at the moment, yes it's in a downward trend at the moment due to corona, BUT, they are pushing up, people getting stopped out, and then heading down south rapidly, and there's no way I'm going into that market without bagging up (stop loss).
 
Mors said:
Yeah I looked at that but my Halifax share dealer doesn't seem to give me access to everything on the trading platform. I did some research and the way for me to swerve capital gains is buying coins which I don't mind.
Why wouldn't you go for gold btw?
I'd get stiffed for approx 8% between buying and selling currently, pretty hefty margin at a lot of places, but looking at the market there seems to be an easy 8% on the gold price whilst this corona nonsense is going on.
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I would be surprised if the Halifax didn't give access to at least a few Gold Exchange Traded Funds. I have never used the Halifax though.
Another thing that some people do is invest in shares (or usually funds) of gold mining companies, but this is not the same thing at all and actually is not a very good idea.

Buying gold coins would mean that you don't have to pay capital gains tax, but unless you are planning on holding it for a long time (which it doesn't sound like you are) or you are investing a massive amount (which you may be, of course) then I wouldn't worry too much about capital gains tax as any gain probably wouldn't be over the allowance anyway.

Why wouldn't I invest in gold? Well, the prices are extremely volatile for a start .Just look at the history of gold prices and it is insane. It seems odd to me to react to volatility in the stock market by moving to something that is even more volatile. You can see why it is volatile too, because it doesn't generate any income while you have it and it's price is simply down to what people will pay for it, there is no way of predicting whether it will go up or down.

If all you are doing is putting your money into gold or another commodity to ride out the storm on the stock markets, and then get back into stocks later then fine, but I would personally choose another way of doing that as even over a short time you could end up losing money if the gold market crashes. I would probably look at bonds or at a push blue chip companies that are unlikely to fail and continue paying dividends, and just accept the hit.
 
Mors said:
I've got a finspreads account I was going to transfer to and go short on, and it is a bit of a free for all, but, I just feel more comfortable with a more stable holding. Yeah I could set my stop loss at 10% of what I went in at, but with the current volatility I feel like I could get shook out of a lot of trades. There's plenty of chop in there on a lot at the moment, yes it's in a downward trend at the moment due to corona, BUT, they are pushing up, people getting stopped out, and then heading down south rapidly, and there's no way I'm going into that market without bagging up (stop loss).
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You can hedge out the volatility, a basic way is by shorting a crap UK company and buying an equivalent amount of a US company in the same sector, and buying some currency to cancel out the exchange rate effect. Then let Big D and that idiot Boris do the rest. That way your stop is on the total position as a percentage of your capital, rather than a random price in the market that will get touched sooner (if the market is volatile) or later (at other times).
 
Richey said:
I would be surprised if the Halifax didn't give access to at least a few Gold Exchange Traded Funds. I have never used the Halifax though.
Another thing that some people do is invest in shares (or usually funds) of gold mining companies, but this is not the same thing at all and actually is not a very good idea.

Buying gold coins would mean that you don't have to pay capital gains tax, but unless you are planning on holding it for a long time (which it doesn't sound like you are) or you are investing a massive amount (which you may be, of course) then I wouldn't worry too much about capital gains tax as any gain probably wouldn't be over the allowance anyway.

Why wouldn't I invest in gold? Well, the prices are extremely volatile for a start .Just look at the history of gold prices and it is insane. It seems odd to me to react to volatility in the stock market by moving to something that is even more volatile. You can see why it is volatile too, because it doesn't generate any income while you have it and it's price is simply down to what people will pay for it, there is no way of predicting whether it will go up or down.

If all you are doing is putting your money into gold or another commodity to ride out the storm on the stock markets, and then get back into stocks later then fine, but I would personally choose another way of doing that as even over a short time you could end up losing money if the gold market crashes. I would probably look at bonds or at a push blue chip companies that are unlikely to fail and continue paying dividends, and just accept the hit.
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The third way of doing it is through options. Then you don't need to sell your portfolio, you just hand over the dividends to your broker in exchange for as many out of the money puts as you can afford.
 
One good thing about the Coronavirus is that it'll stop me dying of BSE.
 
Woland said:
Twice as many as Barrymore's pool then. Declare an emergency

Anyways, Wirral. New Brighton. Needs all kinds doing to it. It's a brewery thing not a me thing, thank fuck. Covid special IPA.
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Please tell me you're gonna call it Brew Brighton or something
 
Woland said:
Twice as many as Barrymore's pool then. Declare an emergency

Anyways, Wirral. New Brighton. Needs all kinds doing to it. It's a brewery thing not a me thing, thank fuck. Covid special IPA.
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Ha .. just down the road from Wallasey Village .. where I had my first apartment. Far far too long ago.
 
My travel insurance doesn’t include travel disruptions but rang Emirates and they were pretty cool. I can change destination, go later in the year or get a full refund if the FCO advise not to travel.
 
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dantes said:
Loools dare she try to blame Big D for a viral outbreak
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Actually anyone with half a brain (which excludes Trump) would know that Covid-19 was on it's way and they would hasten the services to prepare and stock up on emergency supplies. The fact that C-19 has hardly registered in the USA and yet they are already running low (run out) of test kits suggests massive ill-preparedness .. and that's on him.
 
Heh. It is a boss name.

What's The Workshop like @Woland? A few people have recommended it to me & that photo someone put of the Sunday roast there the other day on twitter looked amazing.
 
I'm not the right guy to ask. I just can't get on with the place. My mates like it, a load are there now, but I end up getting off all the time. Bad vibes... It's not easy being psychic.

Sunday dinners are good.
 
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